[R7d61]

I have been searching high and low for a decent place near Alpena(going to enroll in college there), and found a decent place in Curran, but not sure what I should offer.

it's suggested at around 48k , but I am hoping to talk down into the lower-mid 30's do you think that is going too low or should I try for 40k even?

I am not familiar with the area(I am from Pontiac, and grew up here most my life).

Hopefully I can be a happy first-time home owner this summer, but I don't want to pay more than I have to and with Michigan's current situation with jobs/employment, I am hoping that will work to my advantage.

I want to be able pay off the house within 5 yrs or less and avoid a 15-30yr commitment.

Any advice on how low I should offer would be great and info on Curran specifically would be great also.

Thanks.

[magellan]

Originally Posted by R7d61

I have been searching high and low for a decent place near Alpena(going to enroll in college there), and found a decent place in Curran, but not sure what I should offer.

it's suggested at around 48k , but I am hoping to talk down into the lower-mid 30's do you think that is going too low or should I try for 40k even?

I am not familiar with the area(I am from Pontiac, and grew up here most my life).

Hopefully I can be a happy first-time home owner this summer, but I don't want to pay more than I have to and with Michigan's current situation with jobs/employment, I am hoping that will work to my advantage.

I want to be able pay off the house within 5 yrs or less and avoid a 15-30yr commitment.

Any advice on how low I should offer would be great and info on Curran specifically would be great also.

Thanks.

I don't know. If you owned the house, how much would you want me to take you for? Assuming you don't know anything about real estate and mis-priced the house, can I give you $25,000 for it (take it or leave it)?

[R7d61]

Nah, I am a concrete worker/airplane mechanic lol Real estate really ain't my thing, so I am not sure how low I should offer and I may say unrealistic prices, but that's because I am not a broker and no nothing of the field really, other than wanting to buy a house that's where my knowledge of real estate drops off sadly, which is why I am hoping you can clue me in a little bit.

It looks like it's been sitting on the market for a while though, so I don't think they are getting much offers.

is there a general rule of thumb to lowball? kinda like dealing with car salesmen or is it pretty much whatever price they advertise is as low as they will go?

BTW if I owned it and you offered about 25-30K i'd take it

Thanks again.

P.S It can be as bad an offer as Detroit house are selling for 7k sure they are in bad spots but still at least my offers are not that low hehe

[bubbagirl]

First, do you research. Find out what other houses are selling for in the area. Might not hurt to actually talk with a local realtor about sales prices of comparible houses. Yes, it might be on the market for a while, but there is always a bottom line that has to be met. The only way you're going to figure out that amount is to make an offer. I think offering low-mid 30's would actually be a little insulting. And yes, the theory of something is better than nothing always holds true, but understand that the seller may have already dropped the price significantly lower than it's acutal value and/or amount owed on it and already looking at taking a major loss.

[R7d61]

I just stumbled upon this site and checking it out now, although there was no data that I saw for Curran, MI but for Curran, WI but still looking and searching google.

and yeah I understand they need to keep their lights on and feed the children too and can't give it away for too cheap, but like a lot of things they usually always post for more than they want, and I am just trying to figure out roughly what I should offer.

and I will call other local realtors, but don't want to call the realtor with the specific house in mind, because like you said I may insult them and I don't want that.

[Rapunzll]

Sounds like you are expecting them to be more than happy to take a 25% plus cut in their asking price! I think that's unreasonable, unless they are in a desperate situation, in which case, could you really sleep comfortably at night?

[R7d61]

Originally Posted by Rapunzll

Sounds like you are expecting them to be more than happy to take a 20% plus cut in their asking price! I think that's unreasonable, unless they are in a desperate situation, in which case, could you really sleep comfortably at night?

Sure I could , I am sure they sleep well even if they over charge people, not so much in Michigan, but in busier U.S. place they sell price well above it's actual cost.

do you think asking for 40k, 5yr mortgage would be too much as well? it's price is listed at 47,500

[Rapunzll]

I really don't think that some guy selling a house for 48K is some real estate mogul over charging for their property.

As far as the mortgage, are you saying you expect them to finance you too?

[R7d61]

and that's why I never said that. I said in other parts of the country I know they have no problem sleeping at night while over-charging people. I had friends(moved out of Michigan while back) that were into real estate and would tell me all about getting houses for cheap and jacking up the prices. which I don't blame them or anyone who does, but I have no problem also trying to get the cheapest deal I can. what's wrong with that?

the thing is also is that it's mostly the land I am going for, the "house" on it is only 300sqft or so, but I can whip up a concrete house later.

and BTW not everyone has 50k they can just throw at people. if I could do that id be looking at 300k homes not 50 and below.

[Rapunzll]

You probably make more than I do a year. Most people do. I have a 30 year mortgage, like most people do, that way, I didn't have to worry about how much money I could 'throw at' a house.